Asos reports 23 percent jump in UK retail sales

Retail sales at Asos grew 30 percent on a reported basis and 28 percent in constant currency for the four months ending December 31, 2017 to 790.4 million pounds (1,129.6 million dollars). The company said, it witnessed accelerated performance in the UK with retail sales growth of 23 percent in a challenging market to 300.9 million pounds (429.7 million dollars).

Commenting on the trading update, Nick Beighton, the company’s CEO, said in a media release: "I'm pleased to report a strong performance during the period including peak. We achieved an exceptional performance in the UK, whilst momentum in international sales continued. Following this strong start to the year, we remain confident in our full year guidance and delivery of our planned investments in infrastructure to support our global ambitions."

Active customers during the period rose 19 percent and average basket value was up 3 percent. Retail gross margin rose 80bps on prior year. Asos added that there is no change to FY18 financial guidance, however full year capital expenditure is now expected to be around the upper end of the previously indicated range of 200-220 million pounds (285 to 314 million dollars).

Picture:Asos website